Home Women Financial Latin American Fintech Tienda Pago Raises Collection B Spherical, Backed by Ladies’s World Banking Asset Administration, IDC Ventures

Latin American Fintech Tienda Pago Raises Collection B Spherical, Backed by Ladies’s World Banking Asset Administration, IDC Ventures

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Latin American Fintech Tienda Pago Raises Collection B Spherical, Backed by Ladies’s World Banking Asset Administration, IDC Ventures

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New York, 18 October 2022 — Ladies’s World Banking Capital Companions II (WWBCP II) has introduced an funding in Latin American fintech firm Tienda Pago, representing WWBCP II’s ninth funding up to now. WWBCP II seeks to shut the gender hole in monetary inclusion, whereas demonstrating the enterprise case for gender lens investing by attaining enticing returns for its buyers.

Small companies are basic drivers of financial growth in Latin America and signify the overwhelming majority of companies and employment within the area. Nevertheless, they lack entry to funding, with information displaying that Micro, Small and Medium Enterprises (MSMEs) obtain solely 12% of whole formal credit score within the area. Tienda Pago helps to bridge this hole by offering small enterprise house owners with working capital by way of short-term stock financing on its digital platform. The corporate, which operates in Peru and Mexico, works with product distributors to supply seamless, cashless transactions that profit not simply store house owners, however suppliers as effectively, offering worth at each ends of the availability chain.

Tienda Pago’s companies had been of specific significance throughout the COVID-19 pandemic, as small retailers disproportionately confronted the challenges of lockdowns and supply-chain disruptions. Throughout this time, the corporate’s purchasers had been capable of proceed stocking their inventories whilst gross sales slowed, and households stayed in enterprise regardless of the short-term shocks.

Leveraging Ladies’s World Banking’s proprietary, data-driven organizational and market gender assessments, Tienda Pago will determine alternatives to extend publicity to potential feminine clients, in addition to entice and retain feminine candidates for employment. WWBCP II will work to make sure gender parity is a precedence in staffing selections, significantly in underrepresented know-how positions. The funding can even improve WWBCP II’s publicity to the historically underserved market of women-owned MSMEs.

“Small enterprise house owners are the cornerstone of financial growth, and entrepreneurship is an important piece of the worldwide technique to extend girls’s monetary inclusion,” stated CJ Juhasz, Chief Funding Officer at Ladies’s World Banking Asset Administration (WAM). “We’re very excited to accomplice with Tienda Pago to supply entry to finance for this essential buyer base.”

“Our new and current buyers’ continued help of Tienda Pago’s enterprise mannequin and growth will enable us to develop and generate extra affect in our communities,” added Dan Cohen, CEO and founding father of Tienda Pago. “Small shops are on the coronary heart of their communities; their well being instantly impacts their neighborhoods. Right now, over 68% of individuals working in small shops are girls taking good care of their households. Offering formal and steady credit score permits these girls to have their shops well-stocked.”

Ladies’s World Banking Asset Administration co-led the Collection B spherical alongside IDC Ventures. Present Tienda Pago buyers additionally participated within the Collection B spherical, together with Kaszek Ventures, QED, Accion Enterprise labs, Agrega Companions and Oiko Credit score, in addition to a brand new investor, the Alumni Fund.

 

About Ladies’s World Banking Asset Administration

Ladies’s World Banking Asset Administration (“WAM”) invests in revolutionary inclusive finance corporations in rising markets, guiding them to seize the substantial market share of financially underserved girls and the largely untapped expertise pool of girls workers and leaders. WAM’s first Fund was a pioneer of gender-focused affect investing in inclusive monetary service suppliers.  WWBCP II expands the gender-focused funding technique in revolutionary monetary service suppliers, with a devoted technical help facility to assist portfolio corporations obtain strategic goals towards gender inclusion.

About IDC Ventures

IDC Ventures is an funding fund that funds initiatives that drive innovation and digital disruption. IDC Ventures focuses on corporations within the fintech business, market, and platforms all through Europe, the US, and Latin America.  Up to now, it has raised greater than USD $400 million for know-how corporations and supported initiatives reminiscent of Curve, Bipi, RecargaPay, Merqueo, Securitize, and plenty of extra.

About Tienda Pago

Tienda Pago (“TP”) is a fintech firm that operates in Mexico and in Peru. TP gives short-term credit score to small comfort shops within the area to purchase stock from established Shopper Packaged Good corporations (CPGs) and distributors. TP permits shops to obtain stock for per week, paying for these deliveries instantly by way of banking switch to the stock suppliers. Tienda Pago makes use of revolutionary cellular know-how and enterprise fashions to succeed in a inhabitants that’s financially underserved to foster monetary inclusion.

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